BTCUSD is currently in a long term Bull run. Currently, the asset is undergoing a decisive movement. The trendline shows we have almost bottomed out. A little downward movement further towards the 50K-52K level making our trend still valid on 1D Chart.
Since we are completing the 4th Elliot Wave , it is a very good chance to take a long position, managing the stop loss somewhere below the trendline near 45K Level.
Contrary to the Bull Run Continuation, we might break the trendline, retest it and we go to the next major support around 30K Level as indicated in the chart.
I will keep updating this analysis as we progress.
Please feel free to give your opinion.
Since we are completing the 4th Elliot Wave , it is a very good chance to take a long position, managing the stop loss somewhere below the trendline near 45K Level.
Contrary to the Bull Run Continuation, we might break the trendline, retest it and we go to the next major support around 30K Level as indicated in the chart.
I will keep updating this analysis as we progress.
Please feel free to give your opinion.